Updated Dec 4, 2024
Banco Inbursa Provides $35M Refinance Loan For Industrial Property In Mott Haven
325 Exterior Street, West Bronx, Bronx, NY, USA
$35,000,000
$1,348/SF
Building Size
25,962 SF
Asset Type
Industrial
Closing
Jul 9, 2021
About this deal
AI
The industrial property located at 325 Exterior Street in Mott Haven has been involved in a loan transaction. The property, spanning 25,962 square feet, was refinanced for a loan amount of $35,000,000 by Banco Inbursa.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $35,000,000
- Address: 325 Exterior Street
- Market: Mott Haven
- Lender: Banco Inbursa
The loan was requested by the property's landlord, David Lichtenstein & Mitchell Hochberg of Lightstone Group. The refinance transaction allows them to secure the necessary funds while leveraging the value of their industrial asset in Mott Haven.
On the Map
$35,000,000
$1,348/SF
Industrial
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Players
Bronx Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93